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Land Bank Revenues: March 31

The Martha’s Vineyard Land Bank reported revenues of $179,811.25 for the business week ending on Friday, March 31, 2017. The land bank receives its funds from a two per cent fee charged on many Vineyard real estate transactions.

Much of the land bank revenue last week came from the town of Edgartown, where two transactions resulted in $63,808.75. Three transactions earned $47,110.50 in Oak Bluffs. Five transactions generated $38,292 in Tisbury. Two transactions resulted in $24,300 in West Tisbury. And one transaction earned $6,300 in Chilmark.

No eligible transactions were recorded in Aquinnah.

The land bank uses its revenues to purchase and manage land for purposes of conservation, preservation and passive recreation. To date the agency has participated in the purchase of more than 3,243 acres of Vineyard land.